Gains for XRP as Traders Analyze SEC Appeal and Rising Inflows into Ripple Funds

CoinShares' digital asset fund flow analysis shows that institutional investors' capital inflows into XRP funds increased last week.

Key market movers for the cryptocurrency include an appeal to the SEC and the unlocking of 1 billion tokens.

On Monday, XRP gained roughly 2% and is now trading at $0.5430.

Market mood, XRP fund flows, and the October 1 token unlock are all factors that might affect Monday's Ripple (XRP) pricing. The cryptocurrency trades above critical support around $0.5200, contributing to XRP's over 2% daily rise.

As the SEC's legal appeal against the payment remittance service progresses, XRP traders are keeping a close eye on the situation.
Ripple was fined $125 million for the institutional sale of XRP coins, but the SEC contested the final verdict.

The expected release of 1 billion XRP tokens by the payment company is another factor impacting the asset. The asset's value is impacted adversely by the massive influx of XRP tokens released at each unlock.

According to the data, XRP's losses might go down by another 7%.

Since reaching a high of $0.9380 in July 2023, Ripple has been steadily declining over many months. At $0.5026, a crucial support level for XRP, the cryptocurrency is expected to extend losses of 7% and sweep liquidity. This level is in line with the low from September 6.

The Moving Average Convergence Divergence (MACD) indicator shows that the price of XRP is moving in a downward trend, as shown by the red histogram bars.

The bearish thesis might be disproven if the daily candlestick closes above the 200-day exponential moving average, which is now at $0.5548. The altcoin's psychologically key price level, $0.6000, reached on October 2nd, is a potential target for XRP's rebound.

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